Asia-Pacific markets retreat as tech stocks decline
Istanbul, November 18 (Hibya) – Asia-Pacific markets fell on Tuesday following a decline on Wall Street led by technology stocks.
Japan’s Nikkei 225 Index fell 0.92%, while the Topix Index dropped 0.6%. South Korea’s Kospi slid 0.64%, and the small-cap Kosdaq declined 0.58%. Hong Kong’s Hang Seng Index lost 0.86%, whereas China’s mainland CSI 300 Index traded flat. Australia’s benchmark S&P/ASX 200 fell 0.76%.
The yield on Japan’s 20-year government bonds rose about 4 basis points to 2.78%, reaching its highest level since July 1999. The 10-year bond yield increased roughly 2 basis points to 1.751%.
In the United States, stocks pulled back under pressure from declines in technology shares as Wall Street awaited key data scheduled for release this week, including Nvidia’s earnings and the September jobs report.
The Dow Jones Industrial Average fell 557.24 points, or 1.18%, to close at 46,590.24. Losses in the “AI chip favorite,” Salesforce, and Apple dragged down the blue-chip index. The S&P 500 lost 0.92% to finish at 6,672.41, while the Nasdaq Composite declined 0.84% to 22,708.07.
Nvidia shares dropped about 2% ahead of the company’s third-quarter results, expected after Wednesday’s market close. With investors increasingly concerned about tight valuations, the chipmaker and other companies in the AI sector have faced pressure recently. Private credit firm Blue Owl Capital fell nearly 6% amid concerns over its large loans tied to AI data-center construction.
British News Agency